Skip to main content

About your Search

Search Results 0 to 1 of about 2
and the fiscal cliff. everyone talks about taxes and what is going to happen with the fiscal cliff. there has been $1500 gone to increase oil prices. you can get them that tax cut today if you invested in our report. everybody talks about entitlements. high oil prices make the social security trust insolvent five years sooner than they would if he did not have high oil prices. america needs jobs and growth. following the recommendations in our report will lead to both of those. it would be good for american business. >> i will start with senator alexander. tell me about energy policy and where it fits in with the fiscal cliff. what we will spend money on and how we were tightened our belts. >> the major place it fits is the right policy would create an environment which would produce a lot more revenue. that would help to reduce the debt. the federal government doesn't spend much money on energy. energy research is about $6 billion a year. i would like to see it doubled. this report is a blueprint for independence and i think it is the right blueprint. we are not in a position to be held host
about the tax component of this fiscal cliff and it absolutely is a tax component. we talk about taxes as it relates to small businesses and creating jobs. we talk about taxes as it relates to individual families and being able to make ends meet. but what this chart shows, mr. speaker, is spending and tax revenue of the federal government of the united states of america from 1947 out to 2077. and you can't see the intory indicate detail here, mr. speaker, but what you can see here from far, far away is this green line that represents tax revenue is a relatively flat and constant line. as a general rule it doesn't matter whether tax rate were the 90% marginal rates, the 70% marginal rates that they were when john f. kennedy was president and he cut taxes or whether they were 28 marginal rate during the reagan years. mr. speaker, it turns out -- and this is of no surprise to you -- turns out the american people are pretty smart. and if you raise taxes on this behavior, they switch to this behavior. and if you raise taxes on that behavior, they switch to this behavior. because at the end
Search Results 0 to 1 of about 2